Vietnam Business News

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• Vietnam central bank keeps dollar exchange rate unchanged at vnd20,618
• Vietnam companies reported importing only 1 tons of gold this week
• Aug 11: Vietnam gold prices extreme volatile, dollar falls under vnd21,000 at gold shops
• Thai-VN venture to build refinery, power plant
• Market only suited to long-term investments
• Food prices add to inflation woes
• Commodity market would benefit VN coffee
• Cashew export prices on the up
• Major gold dealers allocated import quotas
• New FDI wave in healthcare sector kicked off

Vietnam central bank keeps dollar exchange rate unchanged at vnd20,618 Posted: 11 Aug 2011 01:35 AM PDT Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,618 on Thursday, unchanged from Wednesday. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, hence, the ceiling price for a dollar today was VND20,824. Commercial banks this morning sell dollar mostly at the [...]

Vietnam companies reported importing only 1 tons of gold this week Posted: 11 Aug 2011 01:33 AM PDT Vietnam companies are reported to have imported only 1 tons of gold out of a total quota of 5 tons of gold imports licensed by the State Bank of Vietnam. SJC –Sai Gon, PNJ, DOJI, Vietnam Agribank Gold Corporation, and 6 other banks got a nod to import 5 tons of gold, valid until August [...]

Aug 11: Vietnam gold prices extreme volatile, dollar falls under vnd21,000 at gold shops Posted: 11 Aug 2011 01:33 AM PDT Vietnam gold prices had an extreme volatile trading day today as it swung to top VND46 million/tael in early trade before easing down to VND45 million 1 hour later but then it bounced back following suit global gold prices Vietnam gold prices had an extreme volatile trading day today as it swung to top VND46 [...]

Thai-VN venture to build refinery, power plant Posted: 10 Aug 2011 08:33 PM PDT Thailand’s STFE Limited Company and Viet Nam’s Khang Thong Group, who have entered into a joint venture to build an oil refinery in Binh Dinh Province, will do the technical design for it together with another Thai company. They signed a contract for the purpose with PTTES Company yesterday. The joint venture, KST Energy Development [...]

Market only suited to long-term investments Posted: 10 Aug 2011 08:33 PM PDT The nation’s stock market is currently undergoing its most difficult time and investments through this channel are suitable to long-term and value-oriented investors, said Saigon Securities Inc’s (SSI) chairman Nguyen Duy Hung at the conference on stock investment strategy held by the company yesterday in Ha Noi. “It’s inadvisable to borrow money to invest in [...]

Food prices add to inflation woes Posted: 10 Aug 2011 08:28 PM PDT Monetary factors were not the only reasons for domestic food and foodstuff prices skyrocketing, a seminar recently heard. At the seminar, based on effectively combining macroeconomic policies to curb inflation held and in Ha Noi on Tuesday, representatives were told that Vietnamese food and foodstuff had experienced significant increases in price, much higher than in [...]

Commodity market would benefit VN coffee Posted: 10 Aug 2011 08:28 PM PDT Viet Nam has exported 14.24 million sacks of coffee, or 955 million tonnes, in the last 10 years – 91 per cent of total production. Exports dropped 17 per cent last year compared to 2009, but have risen in 2011. The price has also soared. Reporter Bich Ngoc spoke to Luong Van Tu, chairman of [...]

Cashew export prices on the up Posted: 10 Aug 2011 08:26 PM PDT The quantity of cashew nuts exported from Viet Nam in the first seven months of this year is reported to have reached 84,000 tonnes with a turnover of US$656 million, according to Nguyen Thai Hoc, chairman of the Viet Nam Cashew Association (Vinacas). However, volume dec-lined 16 per cent but the value was up 14.8 [...]

Major gold dealers allocated import quotas Posted: 10 Aug 2011 08:24 PM PDT Major gold dealers reported to obtain their import quotas yesterday. The imported gold is expected to arrive in Viet Nam on Friday, which cooled the domestic gold price by 1.8 per cent to VND43.9 million per tael. Importers this time are named Sai Gon Jewellery Co (SJC), Agribank Gold and Jewellery Co (AJC), Sacombank Jewellery [...]

New FDI wave in healthcare sector kicked off Posted: 10 Aug 2011 08:23 PM PDT The information about the plan by Indian Fortis Healthcare to buy 50 percent of stakes of the Vietnamese Hoan My Healthcare Group could be the start for a new wave of foreign investors, injecting capital in the healthcare sector in Vietnam. Bloomberg has reported that Fortis Healthcare is conducting negotiations on the purchase of controlling [...]

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